Invesco KBW Bank ETF (NASDAQ:KBWB) Short Interest Down 53.5% in July

Invesco KBW Bank ETF (NASDAQ:KBWB) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 1,750,000 shares, a drop of 53.5% from the June 30th total of 3,760,000 shares. Based on an average daily trading volume, of 689,100 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Securities Inc. raised its holdings in Invesco KBW Bank ETF by 4.7% in the 2nd quarter. Fifth Third Securities Inc. now owns 4,214 shares of the company’s stock valued at $225,000 after acquiring an additional 191 shares during the last quarter. Truist Financial Corp raised its holdings in Invesco KBW Bank ETF by 1.4% in the 4th quarter. Truist Financial Corp now owns 19,497 shares of the company’s stock valued at $959,000 after acquiring an additional 278 shares during the last quarter. Trust Co. of Vermont raised its holdings in Invesco KBW Bank ETF by 105.3% in the 4th quarter. Trust Co. of Vermont now owns 616 shares of the company’s stock valued at $30,000 after acquiring an additional 316 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Invesco KBW Bank ETF by 3.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,168 shares of the company’s stock valued at $500,000 after acquiring an additional 379 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in Invesco KBW Bank ETF in the 4th quarter valued at about $37,000.

Invesco KBW Bank ETF Price Performance

Invesco KBW Bank ETF stock traded up $0.56 during midday trading on Friday, reaching $59.10. The company had a trading volume of 387,265 shares, compared to its average volume of 821,502. The company has a market capitalization of $1.71 billion, a P/E ratio of 10.69 and a beta of 1.19. Invesco KBW Bank ETF has a 12-month low of $36.51 and a 12-month high of $59.34. The firm’s fifty day simple moving average is $54.31 and its 200-day simple moving average is $52.05.

Invesco KBW Bank ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were paid a $0.3984 dividend. This represents a $1.59 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Monday, June 24th.

About Invesco KBW Bank ETF

The Invesco KBW Bank ETF (KBWB) is an exchange-traded fund that is based on the KBW Nasdaq Bank index, a modified market-cap-weighted index of US banking firms. KBWB was launched on Nov 1, 2011 and is managed by Invesco.